BENGALURU, Nov 22 (Reuters) - Indian billionaire Gautam

Adani has been indicted by U.S. prosecutors for his alleged role

in a $265 million scheme to bribe Indian officials, sending

shockwaves across his eponymous $142 billion ports-to-soybeans

business conglomerate.

Here is what you need to know about the U.S. indictment.

THE MAJOR U.S. INDICTMENT

Gautam Adani, one of world's richest people, faces his

biggest challenge after being charged with seven others for

alleged bribery related to power supply deals from energy

projects in India, with U.S. authorities calling it "The Corrupt

Solar Project".

Adani Group says the allegations are baseless and has vowed

to seek "all possible legal recourse".

There is a growing spotlight on Sagar Adani, a millennial

scion of the company who kept track of hundreds of millions of

dollars of alleged bribes to Indian officials, in notes the

prosecutors described as "bribe notes".

The alleged bribes caught the attention of U.S. authorities

as Adani's companies were raising funds from U.S.-based

investors in several transactions starting 2021.

STOCK ROUT AND FALLOUT

The U.S. indictment has jolted Adani Group debt and equity.

Adani Group bonds dropped for a second session after the news.

However, stocks in the conglomerates' companies stabilized on

Friday, a day after nearly $27 billion was knocked off from the

combined market value of those shares.

In a major blow, Kenya ordered the cancellation of Adani

infrastructure deals worth over $2.5 billion. And back in India,

opposition parties have demanded a probe into allegations of

wrongdoing and said they would raise the issue in parliament.

WHAT NEXT FOR ADANI, LEGAL OPTIONS

A key question is what is next for Gautam Adani? He is

charged with foreign bribery, securities fraud, securities fraud

conspiracy and wire fraud conspiracy.

Adani has not been arrested and his whereabouts are unknown,

though he is believed to be in India.

A trial could still be a long way off, even if Adani is

extradited or surrenders in the U.S.

If convicted, Adani could face decades in prison as well as

monetary penalties, though any sentence would ultimately be up

to the judge overseeing the case.